Firsova - I am a bit more confident than you in this trajectory - that's very unusual. I think the Bpotter clients are still sellers - 500000 @ 60c sounds like they are finally selling out - I think we still have a few weeks to go.
I have never felt that this share could keep a tight lid on current trading ( sales turnover) as there are too many that have insight in the trade which is a pretty small body of people - I think you can keep acquisitions under wraps but generally trading - I don't think so. So given my confidence in what they are doing I expect that (assuming the process is working) that over the next few months there will emerge a string of buyers once the stags have had their profit. On any metric this seems cheap.
So my view is more like 80c heading into the interim results ( around a 16.7 PE on normalised EPS) and direction from that point. I think you could have the Prada bag in March 2016. However I still think that DVA is under-performing as a share at the moment and maybe that relates to the small parcel buyback. There are approximately 120,000 shares to be sold into this facility - I am not surprised that the price has depressed - why pay up. I think there are a small number of buyers and as such they have been getting very few until recently and even then have had to pay up. I think that they are not going to pay above 50c so the buyers are gone and when these come to market and are cleaned out the buying will return. Will it be enough - I think the Prada is ahead and it would take corporate action to reverse this.
Good luck.
PGC Price at posting:
60.0¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)